Forum Energy Technologies (FET) has been under a strong bear grip, hence the stock is down -10.08% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.93% in the past 1 week. The stock has risen by 0.86% in the past week indicating that the buyers are active at lower levels, but the stock is down -7.06% in the past 4 weeks.
The stock has recorded a 20-day Moving Average of 0.94% and the 50-Day Moving Average is 2.78%. Forum Energy Technologies, Inc. has dropped 2.45% during the last 3-month period . Year-to-Date the stock performance stands at 31.06%.
Forum Energy Technologies (NYSE:FET): stock turned positive on Friday. Though the stock opened at $15.11, the bulls momentum made the stock top out at $16.68 level for the day. The stock recorded a low of $15.11 and closed the trading day at $16.33, in the green by 8.22%. The total traded volume for the day was 2,464,045. The stock had closed at $15.09 in the previous days trading.
Also, Equity Analysts at the Credit Suisse upgrades the rating on Forum Energy Technologies (NYSE:FET). The brokerage firm has issued a Outperform rating on the shares. The shares were previously rated Neutral. The rating by the firm was issued on July 18, 2016.
Forum Energy Technologies, Inc. is an oilfield products company. The Company designs, manufactures and distributes products and engages in aftermarket services, parts supply and related services. Its product offering includes a mix of engineered capital products and replaced items that are used in the exploration, development, production and transportation of oil and natural gas. Its capital products are targeted at drilling rig equipment for rigs, upgrades and refurbishment projects; subsea construction and development projects; the placement of production equipment on producing wells, and downstream capital projects. Its engineered systems are components used on drilling rigs or in the course of subsea operations, while its consumable products are used to maintain operations at well sites in the well construction process, within the supporting infrastructure and at processing centers and refineries. Its segments are Drilling & Subsea and Production & Infrastructure.